Pension Reforms in Central and Eastern Europe: Yet Another Transition...?
The pay-as-you-go (PAYG) pension schemes in Central and Eastern Europe are on the verge of financial collapse. In this paper, we analyse the causes of the crisis in the old-age income insurance systems and we discuss theoretical and political economy aspects of pensions and retirement behaviour. Piecemeal reforms have created additional distortions in the pension system and deepened its financial crisis. We will discuss proposals for reforms that combine short run policies for adjusting the existing PAYG system and guaranteeing its financial viability with long run policies to phase in a multi-tiered system combining elements of PAYG and fully funded schemes.
|Date of creation:||1997|
|Date of revision:|
|Contact details of provider:|| Postal: Edinburgh EH14 4AS|
Phone: +44(0)131 451 3497
Fax: +44(0)131 451 3497
Web page: http://www.sml.hw.ac.uk/research/cert.htm
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:hwe:certdp:9705. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Colin Miller)
If references are entirely missing, you can add them using this form.